Dynamic game analysis on China’s public and private oil stockpiles

Huanan Li and Xin Chen
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Xin Chen: Dalian University of Technology

Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, 2016, vol. 84, issue 1, No 39, 715-723

Abstract: Abstract As the economic growth and industrialization, China’s demand for oil rapidly increased. The oil supply security is becoming a key consideration for China’s policy-makers. In this paper, an empirical analysis on optimal operating strategies of China’s public and private oil stockpiles in different market states, including normal oil supply and oil supply interruption, was made by developing a simple dynamic game model. Optimal operating strategies and inventory levels for public and private oil stockpile were derived. Influences on oil prices by stockpiles’ behaviours were derived. The construction processes of the public oil stockpiles were also taken into account.

Keywords: Dynamic game; Energy security; Operating strategies; SPR; China (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s11069-016-2405-y

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